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Federal Tax Updates Archive

Hybrid Vehicles and Tax Benefits

TweetShareSharePin0 SharesHybrid Vehicles and Tax Benefits You have to love car dealers. With the passage of the Energy Policy Act of 2005, car dealers are screaming about the tax benefits of buying these vehicles. Here’s the scoop. Deductions and Credits The Energy Policy Act of 2005 made a major modification to the tax benefits of

Close To Closing The Deal, At Least In The House

TweetShareSharePin0 Shares SALT fix is in. House Democrats agreed to raise the state and local tax (SALT) deduction cap from $10,000 to $72,500. The latest version of the Build Back Better bill also restores a House Ways & Means proposal intended to curb the ability of very wealthy individuals to stash money in Roth IRAs.

Comparing Corporate Tax Systems in Europe, 2021

TweetShareSharePin0 Shares On October 17, we released the International Tax Competitiveness Index 2021, a study that measures and compares the competitiveness and neutrality of all 37 OECD countries’ tax systems. In the coming weeks, we will illustrate how European OECD countries rank in each of the five components of the Index: corporate income taxes, individual

The Latest SALT Cap Fix Would Mostly Benefit High Income Households, Do Little For Middle-Income People

TweetShareSharePin0 Shares The House Democrats’ latest plan to adjust the cap on the state and local tax (SALT) deduction would provide little or no benefit for low and middle-income households but generate a substantial tax windfall for those with much higher incomes, according to a new analysis by the Tax Policy Center. The latest plan

Watch Out For Bad Apples Who Offer Consumer Debt Counseling

TweetShareSharePin0 SharesWatch Out For Bad Apples Who Offer Consumer Debt Counseling Some people may wonder about the point of having a non-profit organization such as those that provide credit counsling. After all, everyone wants something, it is hard to believe that organization exist in order just to help people. If you are skeptical about the

It Would Be a Mistake to Resurrect Corporate Alternative Minimum Tax

TweetShareSharePin0 Shares The latest version of the Biden administration’s Build Back Better reconciliation package reintroduces a policy that has been tried before—and abandoned: a corporate alternative minimum tax (AMT). It would be a mistake to revive this complex and poorly designed policy. Instead, lawmakers should consider directly reducing corporate tax expenditures. The corporate alternative minimum tax was

Settling the Dust of the Coal Industry

TweetShareSharePin0 Shares Coal miners increasingly are victims of a cruel paradox. Even as production declines, more are suffering from deadly black lung disease. Yet falling production and growing efforts to combat climate change will slash the federal funds to support sick workers and their families. This problem can be resolved, but it will require policymakers

Tax Justice Network Arabic podcast #47: السودان: حلول عسكرية لأزمات إقتصادية و إجتماعية

TweetShareSharePin0 Shares Welcome to the 47th edition of our Arabic podcast/radio show Taxes Simply الجباية ببساطة contributing to tax justice public debate around the world. It’s produced and presented by Walid Ben Rhouma and is available on most podcast apps. Any radio station is welcome to broadcast it for free and websites are also welcome to share it. You can follow
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